Saturday, February 27, 2010

Some People Stop Making House Payments - Is This the Right Thing to Do?

Wondering about whether it's the right thing to do, it's news that so many people have apparently made voluntary decisions to stop making their house payments, not attempting to satisfy their mortgage loan obligations to a bank or lender, while living in their homes rent free.
I heard yesterday about a man who did just that here in Orange County, stopped making his condo house payments, and lived there rent free for almost two years.
Is this a real ethical and moral dilemma for these folks?  Or are they simply trying to save money?  Is this a situation of survival mode for many Americans?
Regardless of reasons for this choice, lenders and their owners and shareholders, and eventually US taxpayers, have been and will be taking it in the shorts.

Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

Posted via email from Explore OC Homes


Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home